> -----Original Message-----
> From: IBM Mainframe Discussion List On Behalf Of Tony Harminc
>
> [ snip ]
>
> Now as an ISV employee, I see many Fortune 500 companies that
> have A-P departments who, as a matter of policy, push the
> limits much further, and more often.
You could probably attribute that to the continuous compounding of
interest. The longer "I" take to pay "your" invoice means that that
money stays in "my" bank account longer, earning more interest for "me".
Makes financial sense for the payer.
Indeed, that was the "main" reason cited by a former employer for
refusing to implement "direct deposit" of payroll checks. They budgeted
the projected interest they would earn during the "float" period between
us cashing or depositing our checks, and their bank clearing them.
Oh, it wasn't a small business, either. It was a governmental entity:
"Oklahoma City Public Schools". When I left there in early 1996, it was
"rumored" that direct deposit of payroll checks was "going to be
reconsidered soon"....
-jc-
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